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Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Reportable Segment Data

The following tables show data by reportable segment that is regularly provided to the CODM, reconciled to consolidated totals included in the financial statements along with other segment data:

Reconciliation of Net Revenues to Operating Income(loss):

						Three Months Ended September 30, 2025
(in thousands)						MC						AEC						Corporate						Total
Net revenues						$	174,950					$	86,484					$	—					$	261,434
Cost of goods sold						92,880						218,492						—						311,372
Gross profit						82,070						(132,008)						—						(49,938)
Selling, general and administrative expenses						30,291						12,218						9,396						51,905
Technical and research expenses						6,716						3,673						1,078						11,467
Restructuring expenses, net						1,960						113						1,124						3,197
Operating income/(loss)						$	43,103					$	(148,012)					$	(11,598)					$	(116,507)

						Three Months Ended September 30, 2024
(in thousands)						MC						AEC						Corporate						Total
Net revenues						$	183,033					$	115,353					$	—					$	298,386
Cost of goods sold						94,112						113,890						—						208,002
Gross profit						88,921						1,463						—						90,384
Selling, general and administrative expenses						32,048						11,923						8,126						52,097
Technical and research expenses						7,042						3,802						—						10,844
Restructuring expenses, net						2,207						34						31						2,272
Operating income/(loss)						$	47,624					$	(14,296)					$	(8,157)					$	25,171

						Nine Months Ended September 30, 2025
(in thousands)						MC						AEC						Corporate						Total
Net revenues						$	530,573					$	331,034					$	—					$	861,607
Cost of goods sold						284,842						432,710						—						717,552
Gross profit						245,731						(101,676)						—						144,055
Selling, general and administrative expenses						98,841						34,121						31,257						164,219
Technical and research expenses						21,332						11,472						3,111						35,915
Restructuring expenses, net						6,322						1,801						1,772						9,895
Operating income/(loss)						$	119,236					$	(149,070)					$	(36,140)					$	(65,974)

						Nine Months Ended September 30, 2024
(in thousands)						MC						AEC						Corporate						Total
Net revenues						$	561,828					$	381,882					$	—					$	943,710
Cost of goods sold						299,379						332,878						—						632,257
Gross profit						262,449						49,004						—						311,453
Selling, general and administrative expenses						95,384						36,249						30,814						162,447
Technical and research expenses						22,066						13,303						—						35,369
Restructuring expenses, net						3,294						3,144						146						6,584
Operating income/(loss)						$	141,705					$	(3,692)					$	(30,960)					$	107,053

Schedule of Depreciation and Amortization Expenses:

			Three months ended September 30,						Nine months ended September 30,
(in thousands)			2025			2024			2025			2024
Depreciation and amortization
Machine Clothing			$	8,604		$	8,429		$	24,283		$	25,438
Albany Engineered Composites			13,479			13,596			40,229			40,700
Corporate			355			285			968			865
Consolidated depreciation and amortization			$	22,438		$	22,310		$	65,480		$	67,003

Reconciliation of Operating Income/(loss) to Income before income taxes:

			Three months ended September 30,						Nine months ended September 30,
(in thousands)			2025			2024			2025			2024
Operating income/(loss)
Machine Clothing			$	43,103		$	47,624		$	119,236		$	141,705
Albany Engineered Composites			(148,012)			(14,296)			(149,070)			(3,692)
Corporate			(11,598)			(8,157)			(36,140)			(30,960)
Consolidated Operating income/(loss)			$	(116,507)		$	25,171		$	(65,974)		$	107,053
Reconciling items:
Interest income/(loss)			(1,114)			(1,019)			(4,157)			(3,101)
Interest expense			7,011			3,430			18,859			11,781
Other (income)/expense, net			(347)			3,257			4,170			5,932
Income/(loss) before income taxes			$	(122,057)		$	19,503		$	(84,846)		$	92,441

Schedule of Operating Assets and Capital Expenditures by Reporting Segment

The following table presents assets by reportable segment:

(in thousands)			September 30, 2025			December 31, 2024
Segment assets
Machine Clothing			$	625,460		$	600,603
Albany Engineered Composites			726,588			736,306
Reconciling items:
Cash			108,310			115,283
Income taxes prepaid and receivable, and Deferred income taxes			90,273			47,944
Prepaid expenses and other current assets, and Other assets			150,963			148,560
Consolidated total assets			$	1,701,594		$	1,648,696

The following table presents capital expenditures by reportable segment:

			Nine months ended September 30,
(in thousands)			2025			2024
Capital expenditures and purchased software
Machine Clothing			$	20,387		$	17,184
Albany Engineered Composites			28,422			44,902
Total capital expenditures and purchased software			$	48,809		$	62,086

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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